3.0.0 3014 2024-10-26T08:05:33Z 2024-10-26T08:05:33Z House H HR 2023-04-28 118 [Congressional Record Volume 169, Number 72 (Friday, April 28, 2023)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LaHOOD:H.R. 3014.Congress has the power to enact this legislation pursuantto the following:U.S. Constitution Article I, Section 8, Clause 1: ``Thecongress shall have Power to lay and collect Taxes . . .''The single subject of this legislation is:To establish a system for the taxation of catastrophic risktransfer companies to ensure sufficient capital to covercatastrophic --insurance losses.[Page H2120]]]> hsju00 Judiciary Committee House Standing Referred to 2023-04-28T13:03:35Z hswm00 Ways and Means Committee House Standing Referred to 2023-04-28T13:03:30Z 2023-04-28 Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2023-04-28 Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2023-04-28 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-04-28 Introduced in House IntroReferral 1000 9 Library of Congress L000585 Rep. LaHood, Darin [R-IL-16] Darin LaHood R IL 16 N H001047 Rep. Himes, James A. [D-CT-4] James Himes D CT A. 4 2023-04-28 True L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 2023-05-25 False S001190 Rep. Schneider, Bradley Scott [D-IL-10] Bradley Schneider D IL Scott 10 2023-05-25 False P000613 Rep. Panetta, Jimmy [D-CA-19] Jimmy Panetta D CA 19 2023-05-25 False S001214 Rep. Steube, W. Gregory [R-FL-17] W. Steube R FL Gregory 17 2023-06-13 False M001205 Rep. Miller, Carol D. [R-WV-1] Carol Miller R WV D. 1 2023-12-01 False S001135 Rep. Steel, Michelle [R-CA-45] Michelle Steel R CA 45 2024-01-31 False P000620 Rep. Pettersen, Brittany [D-CO-7] Brittany Pettersen D CO 7 2024-06-25 False L000557 Rep. Larson, John B. [D-CT-1] John Larson D CT B. 1 2024-06-26 False C001126 Rep. Carey, Mike [R-OH-15] Mike Carey R OH 15 2024-07-30 False N000194 Rep. Nickel, Wiley [D-NC-13] Wiley Nickel D NC 13 2024-10-25 False Taxation Taxation 2023-06-13T18:00:25Z 00 2023-04-28 Introduced in House 2023-06-29T20:02:48Z Catastrophic Risk Transfer Act of 2023 or the CART Act of 2023

This bill establishes a system for the taxation of catastrophic risk transfer companies and their security holders to ensure sufficient capital to cover catastrophic insurance losses. The bill defines catastrophic risk as a risk of loss that has a low likelihood of occurring but that would be large in amount.

The bill defines catastrophic risk transfer company as any domestic corporation created and regulated under state law with the purpose of entering into one or more insurance or reinsurance agreements covering catastrophic risk.

]]> CART Act of 2023 Display Title 45 CART Act of 2023 2024-07-24T15:21:51Z Short Title(s) as Introduced 101 CART Act of 2023 2024-05-24T13:39:19Z Introduced in House IH Short Title(s) as Introduced 101 Catastrophic Risk Transfer Act of 2023 2024-05-24T13:39:19Z Introduced in House IH Official Title as Introduced 6 To amend the Internal Revenue Code of 1986 to establish a system for the taxation of catastrophic risk transfer companies to ensure sufficient capital to cover catastrophic insurance losses, and for other purposes. 2024-03-18T20:42:57Z Introduced in House IH Introduced in House 2023-04-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr3014ih/xml/BILLS-118hr3014ih.xml 2023-04-28 Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.